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Additional data related to 2025 are as follows. 1. Equipment that had cost $10,900 and was 40% depreciated at time of disposal was sold
Additional data related to 2025 are as follows. 1. Equipment that had cost $10,900 and was 40% depreciated at time of disposal was sold for $2,500. 2. $10,000 of the long-term note payable was paid by issuing common stock. 3. Cash dividends paid were $4,900. 4. 5. On January 1, 2025, the building was completely destroyed by a flood. Insurance proceeds on the building were $30,200 (net of $1,900 taxes). Debt investments (available-for-sale) were sold at $1,700 above their cost. The company has made similar sales and investments in the past. 6. Cash was paid for the acquisition of equipment. 7. A long-term note for $16,000 was issued for the acquisition of equipment. 8. Interest of $1,900 and income taxes of $6,500 were paid in cash. Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) PHAROAH CORPORATION
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